Market Size of global fertilizers Industry
Icons | Lable | Value |
---|---|---|
Study Period | 2016 - 2028 | |
Market Size (2023) | USD 212.59 Billion | |
Market Size (2028) | USD 262.41 Billion | |
CAGR (2023 - 2028) | 4.30 % | |
Largest Share by Crop Type | Field Crops | |
Largest Share by Region | Asia-Pacific | |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Fertilizer Market Analysis
The Global Fertilizers Market size is estimated at USD 212.59 billion in 2023, and is expected to reach USD 262.41 billion by 2028, growing at a CAGR of 4.30% during the forecast period (2023-2028).
- Fastest growing segment by Product - Iron : The alkaline soils with high pH and degrading health and quality of soils are making them deficient in Iron thus increasing the demand globally for high-yield crop production.
- Largest Segment by Crop Type - Field Crops : Field crops are widely cultivated worldwide and are a staple food in many parts of the world. They account for a maximum share by area in most agricultural countries.
- Fastest growing by Speciality Type - SRF : SRFs are safe for the soil and environment as they precisely release nutrients into the soil throughout the cropping season and reduce the leaching of nutrients.
- Largest segment by Country - China : China is the most populous country in the world. It has a large cultivable land with a high fertilizer application rate per hectare in order to maximize crop yields.